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Life insurance sector reports 6% growth in August
Life insurance companies in India had a solid August 2025, with new business premiums going up by 6% to ₹1.63 lakh crore compared to last year.
The boost mainly came from more people buying both single and regular premium plans, thanks to focused efforts on reaching first-time buyers and strengthening distribution.
New agents recruited to boost penetration
Over 4.37 lakh new agents have joined the industry, even though overall agent numbers only grew a little due to people leaving.
The Life Insurance Council says this fresh recruitment and better digital tools are expected to further boost insurance penetration in FY25 and beyond.
Plus, the recent GST exemption on individual life and health insurance premiums is expected to keep the momentum going for the sector.